š§ š§± Mike Smith | Going from BigCo to a Startup
Mike Smith was COO of a $5B P&L at Walmart. He left to join a three-person company called StitchFix. In this episode we learn how translated his BigCo experience, help take the company public and more
When we were brainstorming the idea of Brick by Brick at Garuda - interviewing early employees and founders, asking them to share the nutty stories of the early days of company building - one of the āideal guestsā I had pinned in the back of my mind was Mike Smith.
Iāve known Mike for over a decade. The Co-founder and General Partner at Footwork, an early-stage venture fund, Mike also happens to be one of the most highly regarded and skilled operators in and around commerce. Prior to getting into venture he was the President and COO at Stitch Fix, where he joined as employee number four, and for over 10 years there held most of the senior roles at the company from COO to CFO to interim CEO and eventually took the company public in 2017.
Prior to joining Stitch Fix, Mike spent almost 10 years building out the e-commerce and multi-channel offerings of Walmart.com, eventually growing to be the COO of the $5 billion division. Mike also sits on the board of Ulta Beauty and Herman Miller.
Heās seen his fair share of ups and downs, and in addition to being a fantastic operator and investor, is one of the most genuine and kind people you will meet.
In our conversation we dig into:
WhyĀ Mike left Walmart to go to a very early stage company
What skills and playbooks MikeĀ developed at Walmart that he was able to apply at Stitch Fix
WhatĀ he saw in Katrina Lake, Stitch Fix's CEO, that convinced him he should join
Balancing being a husband, father, and early stageĀ operator
The role of humans and AI in delivering customer service
How to build and scale culture
The difference between building a company and building a venture fir
..and a whole lot more!
If your actively looking to make the switch to a startup from a BigCo, generally curious about the difference in operating rhythms between a senior role at a large org and rolling up your sleeves at a startup, or wondering how to balance family and startup life, this episode is for you.
To get more Mike check out the below:
LinkedIn: https://www.linkedin.com/in/michaelcsmith1/
Email: mike@footwork.vc
We hope you enjoy the conversation! Listen on Spotify, Apple Podcasts, or YouTube!
If you have any comments on this episode, ideas for future episodes, or any feedback on the podcast, hit reply or email brickbybrick@garuda.vc!
Brick by Brick is presented by Garuda Ventures. Garuda Ventures isĀ a B2B-focused pre-seed and seed venture fund. Garuda is a first-check firmĀ and aims to earn the right to be a founder's first call as they go about building their companies. To learn more, visitĀ https://www.garuda.vc